Here at OptionsBrew.com we believe transparency is the key to success and that's why we have decided to share our monthly options income reports covering details behind the scenes. That said welcome to the first (#1) options income report.
Last May we did in total 29 trades / from which 15 were covered calls and 14 naked puts.
In total 18 trades were closed this May, while there are 11 left open trades with all expiring in the next month.
We managed to make $595.43 from options income during the month of May, which is about 5.95% from our $10,000 goal for 2020. On average it will ask us to make at least $1,342 every month for the next 7 months to reach our goal.
Here are the stocks we traded options on in May: GPS, ET, SDC, RDSA, NRZ, BCRX, HTZ, AGN, INGA, SPCE and XIN
We traded weekly and monthly options. This is the plan we would like to keep with in the future. Weekly options are a very powerful tool to generate income.
Our best trades were probably with Gap inc (GPS) stock, see: Closed GPS Covered Call with +$108 Profit (14.22% yield in 22 days), while the biggest failure was our gamble with Hertz (HTZ) stock, see: Closed HTZ Covered Call with a -$200 Loss
On an overall - pretty good month, trades could be less, but as we were trading with limited capital, I guess this is a decent result.
Half of the income will be withdrawn, while for the other half we bought 25 shares of PBCT, once we will have 100 shares of PBCT we will sell additional covered calls on it
OptionsBrew.com was launched at the end of April 2020, during the month of May website was visited 102 times from 17 countries.
Average session duration 15 min 33 seconds.
We now have 2 e-mail newsletter subscribers.
During the month of May, we were quite busy with article writing (all trades are listed), in total 50 articles.
Launching a new website from a scratch might be a daunting task, it will take us many months before we will start seeing a sizeable community here. We will be quite happy if we will reach 1,000 users per month by the end of the year.
Founders of OptionsBrew.com hope their SEO expertise, Drupal building, and copywriting skills will help to achieve these numbers in a timely manner.
Goals for May 2021
We like setting goals, and when setting goals for May 2021 options income, we are looking to take at least $1,000 in options income.